Common use of Anti-Assignment Provision Clause in Contracts

Anti-Assignment Provision. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and the successors and assigns of the Company and its subsidiaries. However, except as may be approved by the Committee where such approval will not adversely affect compliance of the Plan with Rule 16b-3 under the Exchange Act, neither the ISO Option nor the NSO Option shall be transferable by the Optionee otherwise than by will or the laws of descent and distribution, and each such option shall be exercisable, during the Optionee's lifetime, only by him (or by a duly appointed guardian or personal representative). More particularly (but without limiting the generality of the foregoing), neither the ISO Option nor the NSO Option may be assigned, transferred, pledged, hypothecated or encumbered in whole or in part either directly or by operation of law or otherwise (except as otherwise permitted in this Section 6) including, but not by way of limitation, by execution, levy, garnishment, attachment, pledge, bankruptcy or in any other manner. In the event of any unapproved attempted assignment, transfer, pledge, hypothecation or other disposition of any ISO Option or NSO Option contrary to the provisions hereof, or the levy of any attachment or similar process upon such option, such option shall automatically become null and void. Any transfer of an ISO Option or NSO Option approved by the Committee shall cause the transferee to be treated as the "Optionee" for all purposes of the Plan and this Agreement unless the Committee directs otherwise.

Anti-Assignment Provision. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and the successors and assigns of the Company and its subsidiaries. However, except as may be approved by the Committee Board where such approval will not adversely affect compliance of the Plan with Rule 16b-3 under the Exchange Act, neither the Non-ISO Option nor the NSO Option shall be transferable by the Optionee otherwise than by will or the laws of descent and distribution, and and, if then required under Rule 16b-3, each such option shall be exercisable, during the Optionee's ’s lifetime, only by him (or by a duly appointed his guardian or personal legal representative). More particularly (but without limiting the generality of the foregoing), neither the Non-ISO Option nor the NSO Option may not be assigned, transferred, pledged, hypothecated or encumbered in whole or in part either directly or by operation of law or otherwise (except as otherwise permitted in this Section 6) 5), including, but not by way of limitation, by execution, levy, garnishment, attachment, pledge, bankruptcy or in any other manner. In the event of any unapproved attempted assignment, transfer, pledge, hypothecation or other disposition of any Non-ISO Option or NSO Option contrary to the provisions hereof, or the levy of any attachment or similar process upon such option, such option shall automatically become null and void. Any transfer of an a Non-ISO Option or NSO Option approved by the Committee Board shall cause the transferee to be treated as the "“Optionee" ” for all purposes of the Plan and this Agreement unless the Committee Board directs otherwise.